Category: Tax Reform

Tax Reform

Rewards, Risks in Federal Student Loan Forgiveness Program by Angie Adames, CPA


Posted on September 08, 2022 by Angie Adames

On August 24, 2022, the Biden administration announced a three-point plan to cancel student loan debt for millions of eligible Americans and to extend the suspension of required federal student loan repayments that began at the start of the COVID pandemic. It is important taxpayers recognize that the plan does come with some restrictions and […]

President Proposes Higher Taxes on Billionaires, Corporations by Joseph C. Leuchter, CPA


Posted on April 20, 2022 by Joseph Leuchter

The Biden administration recently released its fiscal budget for 2023, which an accompanying fact sheet claims will help lower costs for American families, expand the productive capacity of the American economy and further reduce the deficit. To raise the revenue required to accomplish these goals, the budget proposes to modify existing business and international tax […]

It’s Not Too Early to Start Planning for January 2022 Gifts by Jeffrey M. Mutnik, CPA/PFS


Posted on December 16, 2021 by Jeffrey Mutnik

The IRS recently released the inflation-adjusted estate and gift exemptions for 2022, which provide families with enhanced opportunities to transfer significantly more assets to younger generations tax-free. However, families must consider these adjustments within the context of potential tax reform in the year ahead. For tax year 2022, the lifetime estate-tax exemption jumps $360,000 to […]

Limitation of Deductions for Interest Expense Impact M&A Transactions by Lewis Taub, CPA


Posted on November 03, 2021 by Lewis Taub

For tax year 2021, business interest expense deduction limitations return to their pre-COVID levels, impacting a broad range of business activities, including merger and acquisitions (M&As). Affected companies must prepare to quantify how this reduced benefit will impact their bottom lines and these transactions moving forward. Under the Tax Cuts and Jobs Act (TCJA) enacted […]

Tax Reform Spurs Immediate Need for Business Valuations by Daniel S. Hughes, CPA/CFF, CGMA, CVA


Posted on October 14, 2021 by Daniel Hughes

Business owners already struggling with the continued uncertainty surrounding the pandemic are also facing the prospect of higher taxes and a resulting negative impact on company cash flow, profitability and valuations. For some, this environment will accelerate business sales or mergers and require significant alterations to existing estate plans – all of which will require […]